Re: Latics in administration - Lenagan leading bid : Tue Jul 07, 2020 9:04 pm  

Egg Chasing wrote:

Both clubs used to pay rent, but the company owned both as you say.

Little aspects around the stadium such as Latics fixings being permanent and rugby ones being stuck over the top was an indicator who was top dog. The stadium belonged to Latics in everything but name. It was originally done so that it couldn't be sold in this exact situation.

I'm not sure IFL is that petty and I think it will be 50/50 as far as costs and upkeep are concerned and both clubs will be able to maximise their profits on matchday.

I don't see any issues TBH, and think it's win win.

We pay about 300k a year to use the stadium. Not a chance would i be expecting our owner to buy the football club and stadium then it starts costing us a million pound a year to run. I would be wanting the same deal or similar. This operation is about him helping latics and not hindering us in my opinion?

Re: Latics in administration - Lenagan leading bid : Tue Jul 07, 2020 10:35 pm  

My thoughts on this would be the consortium would be buying the GROUND and both sharing the costs each club Rugby and Wigan Athletic would be a separate entity each club as a separate company with their own accountants in place. If Wigan Rugby were in trouble or Wigan Athletic were in trouble financially then it would not impair on either of the clubs. We would have the benefit of more revenue on match days the corporate side of the business is immense and we would have the full revenue from that business .If one club goes out of business then the ground goes to the club who are in a financial position and the ground cannot be sold to retrieve the debts of the failing club. I know in the short term that the debts of the Latics have to be paid off long term we would have a bigger say in the running of the stadium and not being the poor tenants. Whoever buys the stadium cannot sell it for development as there is a covenant on the land .Has the training ground at Christopher Park been sold? or Charnock Richard? for the Latics.
I think it is time for the people in Wigan Rugby and Football to put all the hatred behind us and join in the new venture. Whelan saved the Latics but also the Warriors only for him we would have been playing at Bolton. Just a thought Latics average 8,000 home spectators and Warriors 8,000 season ticket holders .If a share issue was issued £100 a share that would be £16 million and the club would belong to the people of Wigan if the ground had to be sold then the shareholders would get some money back. With 16,000 shareholders it would be easy to raise revenue even if a levy of £10 would raise £160,000 .Lets have the club for the people of Wigan whether your Latics Or Warriors shareholders could have a reduced season ticket to watch both clubs.

Re: Latics in administration - Lenagan leading bid : Wed Jul 08, 2020 6:27 am  

jaws1 wrote:

Just a thought Latics average 8,000 home spectators and Warriors 8,000 season ticket holders .If a share issue was issued £100 a share that would be £16 million and the club would belong to the people of Wigan if the ground had to be sold then the shareholders would get some money back. With 16,000 shareholders it would be easy to raise revenue even if a levy of £10 would raise £160,000 .Lets have the club for the people of Wigan whether your Latics Or Warriors shareholders could have a reduced season ticket to watch both clubs.

Sorry mate, but your maths is out. £100 a share would raise £1.6 million. £1000 a share raises £16m.

That said, splitting the sale of the Latics and their training pitch and their 85% share of the stadium may get more interest. Perhaps the council could purchase 36% of the DW and thus have a controlling interest?

Re: Latics in administration - Lenagan leading bid : Wed Jul 08, 2020 6:42 am  

muttywhitedog wrote:

Sorry mate, but your maths is out. £100 a share would raise £1.6 million. £1000 a share raises £16m.

That said, splitting the sale of the Latics and their training pitch and their 85% share of the stadium may get more interest. Perhaps the council could purchase 36% of the DW and thus have a controlling interest?

oops I was never good at maths and im in my 70s now so brain not functioning.

Re: Latics in administration - Lenagan leading bid : Wed Jul 08, 2020 6:51 am  

It is all very well saying put the hatred behind us, but many supporters of the Warriors will remember the situation in the late nighties when Wigan Council sided with Whelan owning the Stadium even though he had only contributed around 20% of its cost, followed by many Latics supporters gloating about Central Park being sold to avoid the Warriors going into administration and the substiquent takeover of the Warriors by Whelan buying off 79% of the Warriors Shareholders. Now the boot is on the other foot!

If Wigan Council had made sure that the Stadium was to be owned by a independent company with both clubs as tenants which was the original intention when the idea of a joint Stadium was first mooted, we would not have the present situation regarding the future of the Stadium as it would have been owned by a company separate from any Wigan Athletic ownership and going into administration due to debts.

In other words, due to the mistake made by Wigan Council at the time the Stadium was built, the future of the Stadium is now unclear, if the bid by the consortium led by Ian Lenagan is not successful.

We can only hope that the bid is accepted by the administrators and the Stadium comes under the ownership of people connected to the Rugby and Football clubs of Wigan and will remain so for evermore.

As far as I concerned, Wigan Council later realised the mistake they had made at Robin Park, when they later built the Leigh Sports Village Stadium by retaining control of the Sports Village and having a independent company to manage the site.

Re: Latics in administration - Lenagan leading bid : Wed Jul 08, 2020 6:54 am  

Ruddy Duck wrote:

It is all very well saying put the hatred behind us, but many supporters of the Warriors will remember the situation in the late nighties when Wigan Council sided with Whelan owning the Stadium even though he had only contributed around 20% of its cost, followed by many Latics supporters gloating about Central Park being sold to avoid the Warriors going into administration and the substiquent takeover of the Warriors by Whelan buying off 79% of the Warriors Shareholders. Now the boot is on the other foot!

If Wigan Council had made sure that the Stadium was to be owned by a independent company with both clubs as tenants which was the original intention when the idea of a joint Stadium was first mooted, we would not have the present situation regarding the future of the Stadium as it would have been owned by a company separate from any Wigan Athletic ownership and going into administration due to debts.

In other words, due to the mistake made by Wigan Council at the time the Stadium was built, the future of the Stadium will be unclear, if the bid by the consortium led by Ian Lenagan is not successful.

We can only hope that the bid is accepted by the administrators and the Stadium comes under the ownership of people connected to the Rugby and Football clubs of Wigan and will remain so forn evermore.

As far as I concerned, Wigan Council later realised the mistake they had made at Robin Park when they later built the Leigh Sports Village Stadium by retaining control of the Sports Village and having a independent company managing the facilities.

The future of the stadium isn't in doubt. Wigan RL will continue to play there regardless of who buys Latics.

Re: Latics in administration - Lenagan leading bid : Wed Jul 08, 2020 7:07 am  

Egg Chasing wrote:

The future of the stadium isn't in doubt. Wigan RL will continue to play there regardless of who buys Latics.

It's not a question about Wigan RL playing there, but a question about the ownership of the the Stadium, if the bid by the Lenagan Consortium is unsuccessful!

If Wigan Athletic and the Stadium is bought by another bidder, it could mean the Warriors having to pay more in rent to play at the Stadium.

Why do you think that our owner is heading the bid to secure the Stadium which is owned by Wigan Athletic.

Re: Latics in administration - Lenagan leading bid : Wed Jul 08, 2020 7:10 am  

jaws1 wrote:

oops I was never good at maths and im in my 70s now so brain not functioning.

It's actually 86% (4.9 million of the 35 million construction cost of the Stadium)

Re: Latics in administration - Lenagan leading bid : Wed Jul 08, 2020 7:28 am  

Ruddy Duck wrote:

It's not a question about Wigan RL playing there, but a question about the ownership of the the Stadium, if the bid by the Lenagan Consortium is unsuccessful!

If Wigan Athletic and the Stadium is bought by another bidder, it could mean the Warriors having to pay more in rent to play at the Stadium.

Why do you think that our owner is heading the bid to secure the Stadium which is owned by Wigan Athletic.

If he owned the stadium it would probably cost the rugby club more money to play there anyway. They would just have the ability to make some income from it too.

Re: O/T Latics in administration : Wed Jul 08, 2020 8:33 am  

JonnyBroad wrote:

Its a proven fact that she doesn't care about people from Wigans opinions. Typical politician does things to suit whats best for themself.

Exactly, Lisa Nandy is only interested in getting some good publicity for herself because of all the criticism she has been getting from many of her constituents over the way she has continually ignored the majority who voted to come out of the EU, which resulted in her majority coming down to a all time low in the last general election.

Hands up, those who remember the former Wigan MP Neil Turner doing anything to help the Warriors at the time they too were in financial trouble in the mid nighties.

A deadly silenced prevailed then, not only from him, but also Wigan Councillors!